GM To Invest $7Bln To Boost Electric Truck, Battery Cell Production In US - Statement

WASHINGTON (UrduPoint News / Sputnik - 26th January, 2022) US automaker General Motors is planning to invest $7 billion in four plants in the state of Michigan to significantly enhance its ability to produce electric trucks and battery cells, the company announced Tuesday.

"General Motors Co. announced today an investment of more than $7 billion in four Michigan manufacturing sites, creating 4,000 new jobs and retaining 1,000, and significantly increasing battery cell and electric truck manufacturing capacity," the company said in a statement.

GM said the investment, the single largest in company history, will help build a new battery factory and convert an assembly plant to make the Chevrolet Silverado EV and the electric GMC Sierra.

In a statement after the announcement, President Joe Biden said the move shows his economic strategy is working, adding that it is the latest of $100 billion invested to build electric cars and batteries.

Biden also lauded the Bipartisan Infrastructure Law as a major step in investing in electric vehicles and urged Congress to catalyze more investments with additional incentives for Made in America electric vehicles, batteries, and semi-conductors.